The tech industry has generally wished that structural discrimination be overcome, while showing that it already is. But technology can be used by anyone. And so, the world has seen video of police brutality against black people in a real-time stream that plays through the closing days of quarantine, going on in George Floyd’s death and protests going on. As employees have left their remote offices to hit the streets, executives of even the largest tech companies — who would usually avoid such complications — have officially, online, expressed their support .
What changes can we expect now? After all, the diversity and inclusion program is getting cut during the epidemic, and figures on employee diversity and VC partner / portfolio demographics have not decreased quickly over the past decade, at least as the total is improving.
First, a group of Black Tech leaders in the Bay Area, including TipsClear’s Megan Rose Dicke, put forward a widely signed petition specifying five goals, including local support and accountability, and putting Black employees and founders at work There is a commitment to keep and invest.
On the ground in the startup world, a significant number of investors say they are setting aside the time and resources devoted to black founders.
Specific proposals for change of status quo at the center of technology as we know it.
To address current systemic bias, algorithmic and otherwise, contributor Will Walker said that tech companies such as Amazon, Yelp and Grube must find ways to facilitate and favor black-owned businesses – even if it means recommending algorithms Rewrite
And to overcome the systemic bias that gets funding, Connie Loizos writes that legislation may be the best answer:
Consider that most VCs today sign their rights to invest in firearms or alcohol or tobacco when managing capital on behalf of pension funds, universities and hospital systems. What if they too agree to invest a certain percentage of the capital that sets up teams with members of underrepresented groups? Now we are not talking about the goal, but the actual mandate. Instead of waiting for venture companies, make changes to your limited partner agreements to grow organically in less homogeneous organizations – or invest in fewer founders who share your gender and race and educational background.
Perhaps technical leaders are responding so strongly today because they realize that if change is not rapid, what is at stake for them?
According to people trying to invest in it, the future of work
Meanwhile, the nature of the work as we know it is being reevaluated. Megan caught up with the top investors in a very popular investor poll for Extra Crunch this week to better understand the problems and solutions. Ana Muira — of Floodgate Capital — thinks the unicorns will be produced as a sample:
- How can you enable Solopreneurs to build businesses that are fully technology-enabled? We think of it as the Ironman suit for Solopreneur. Can financial products and software products use Solopreneur to provide consumers or their customers with the technology-enabled experiences they have come to expect?
- How does prestige follow anyone? A resume or LinkedIn profile measures where you have worked and for how long. With more people working in different locations, measuring expertise will become a new challenge.
- How does an organization maintain knowledge? If a company relies on its people to share its history and knowledge base, how can it be disseminated without relying on internal experts (who are on the decline)?
- How should productivity tools (calendar and communications) and enterprise systems (CRM, HR, finance, etc.) adapt to a multi-modal (work from anywhere) environment? HR is probably the oldest, but every tool will require better integration.
If you’re more interested in the cyber security aspects of remote work, you’ll want to check out security editor Zack Whittaker’s investor surveys, including this week’s industry overview and this epidemic-focused one.
Data show investors are really busy looking for deals
Are pandas really open for business during the pandemic? Docsend, a head of data sources, has a new report this week showing that investor interest increased in April. Here’s Russ Heddleston, CEO at TipsClear, talking about activity on their document management platform:
After the initial decline in March, both founders and chancellors rebounded quite rapidly. In fact, the following week the VC’s interest increased by 10% while the number of founding links increased by 12%. However, for a few weeks the number of links created by the founders either remained flat or dropped. But this is not the case with VCs. Demand for pitch decks rose sharply during the week of 20 April, up 25% year-over-year. In fact, seven of the top 10 best days for pitch deck interest in 2020 were in the month of April.
Fundraising inaction from founders has been! Meanwhile, in a separate article for Extra Crunch, he said that investors are spreading themselves widely.
In recent weeks, as we had higher than average supply and demand, we have observed that the average time spent reviewing a deal has been denied. In fact, we are at a near two-year low. Only the second period when time went down, where it was now in early 2018 (which, incidentally, was not even when demand was at its highest). Twice in 2018 we saw that the time is less than three minutes and currently we are 3 minutes and 7 seconds.
How a development marketer helped his high school brother win in Tiktok
In a fascinating oral history for Extra Crunch, Adam’s Guild describes how he helped his young brother Topher gain more than 10 million followers within five months. Here is a free passage:
First, figuring out which content would be viral seemed random. There was no association between likes, comments, shares or engagement rates.
What made the difference in their successful content? Topher needed to maximize growth, so he went through his Tiktok Analytics insights and noted a trend: his most popular videos were not the ones with the highest engagement rates. They had the highest average visual duration.
Topper said, “If this guess was correct, I wanted to test,” so I posted some videos with longer lengths and saw the people in the caption to the end.
It worked; His video started getting more visuals, but it was not a perfect correlation. Some videos with high viewing duration are not stopping.
When Topher asked me for advice, I suggested that the key metric for Keel was actually the average session duration. This is what YouTube adapts to, so it makes sense that TikTok would do the same. This metric measures how long people actually stay on the platform – not on video – and can be extended by a single video.
He posted another video to test: one that encouraged viewers to revive repeatedly as a cliffhanger was ending in it – Topper poured hundreds of mentos into a huge container of contours before finally making the cut .
This video was his most viewed, over 175,000,000 views. He decided to use the material in future videos to help viewers get accustomed to TicTalk, while also being fun to watch.
Join us on June 10 to see pitchers and five startups on the pitch
Join Eventbrite CEO Julia Hertz for a live Q&A: June 11 at 3 pm EST / noon PDT / 7 pm 8 TT
Throughout the week
LinkedIn Introduces New Retargeting Tools
Coronovirus intensified the post-human era
After purchasing its card game studio for $ 100M in 2017, Zynga acquires Turkey’s Peak Games for $ 1.8B
Huawei’s awesome week
Is next android or next blackberry zoom?
IPO window open (again)
Unpacking ZoomInfo’s IPO to start trading firm
SaaS earnings grow as epidemic pushes companies faster towards cloud
What grocery startup V! Learned from China’s tech giants
From Alex Wilhelm:
Hello and welcome back to Equity, TipsClear’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week, however, the equity crew (Danny, Natasha, Chris, and Alex) agreed that it is unwise to drum up false enthusiasm for funding for rounds and startups. Instead, we talked on an even more important subject: systemic racism in the United States. Venture firms and tech executives across the country are promising to do better after the brutal murder of George Floyd and the vandalism of the police.
Better is more than long.
The resources we mentioned during the show are something else. We will come back Now is a time of constant speed and change.
How to be a better partner
Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcast, Overcast, Spotify and all the artists.